MS&AD Insurance Group Holdings Co., Ltd. (President and CEO: Noriyuki Hara) and MS&AD InterRisk Research & Consulting, Inc. (President: Terumi Nakamura; hereinafter “InterRisk”), a member of the MS&AD Insurance Group, have collaborated with Vdoo Connected Trust Ltd. (CEO: Netanel Davidi; hereinafter “Vdoo”) in the research and development of a cyber security analysis service for IoT devices.
This security analysis service is based on Vdoo’s IoT security analysis function called Vdoo Vision*, which will allow the software installed in IoT devices to analyze the device in minutes or tens of minutes without the need for a design document or a source code.
The MS&AD Insurance Group will continue to bring together the know-how of its group companies and actively develop products and services to meet the diversifying needs of our customers.
※Vdoo Vision: Automatically analyzes and scores existing threats in the firmware of a IoT device, gaps with various security standards, and other characteristics. Please refer to the diagram in the Attachment.
1. Background of joint research and development
According to the Ministry of Internal Affairs and Communications’ (MIC) Information and Communications White Paper (FY 2018), the number of IoT devices is expected to exceed 40 billion by 2020, and IoT devices are becoming indispensable not only in our personal lives but also in our business activities. On the other hand, IoT devices have many security vulnerabilities, with the Ministry of Internal Affairs and Communications (MIC) conducting a large-scale survey of vulnerable IoT devices and the Ministry of Economy, Trade and Industry (METI) developing IoT security guidelines in collaboration with MIC. Under these circumstances, we will promote joint research and development of a service that can easily diagnose the security of IoT devices with a view to utilize it for insurance underwriting screening.
2. Service under research and development
InterRisk will collaborate with MS&AD Insurance Group’s Mitsui Sumitomo Insurance Co., Limited and Aioi Nissay Dowa Insurance Co., Limited to develop the service menu to introduce this “Cyber security analysis service for IoT devices” after April 2021, with a view to using it for insurance underwriting screening related to IoT devices.
3. About Vdoo
Vdoo was founded in 2017 in Israel by top cyber security researchers and developers and serial entrepreneurs who possessed enormous knowledge of the field of embedded systems and advanced endpoint security. It aims to promote IoT security automation. Vdoo has grown rapidly since its inception and has a team consisting of top-notch professionals from multiple industries, intelligence agencies, government, military cyber units and standards bodies.
In April 2019, MS&AD Ventures, which is a Silicon Valley based Corporate Venture Capital of MS&AD Insurance Group, invested in Vdoo.
1. Vdoo Vision Concept
Example of the result
2. Cyber Security MS&AD Platform
The MS&AD Insurance Group has compiled the solutions (consulting and insurance for cyber security) in the cyber security framework as a “Cyber Security MS&AD Platform”. The IoT cyber security analysis service, which is being jointly developed, is a risk consulting menu for IoT devices that corresponds to the “identification and protection of risks” in the cyber security framework.